Extreme Networks, Inc. Class Action Lawsuit - EXTR

Company
Extreme Networks, Inc. (NASDAQ: EXTR)
Lead Plaintiff Deadline
October 15, 2024 (Expired)
Class Period
July 27, 2022 - January 30, 2024

Expired

Lead Plaintiff Deadline

Oct 15, 2024

Join the Extreme Networks, Inc. Class Action Lawsuit

Required Field

Required Field

Required Field

  • $1 - $1,000
  • $1001 - $10,000
  • $10,001 - $25,000
  • $25,001 - $50,000
  • $50,001 - $100,000
  • $100,001 - $250,000
  • $250,001 - $500,000
  • $500,000+

There is no cost or obligation for you to submit.

The submission of this form does not create an attorney-client relationship.

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Purchases

1.
  • Common Stock
  • Preferred Stock
  • Bonds
  • Calls
  • Puts
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Additional Purchases

Sales

1.
  • Common Stock
  • Preferred Stock
  • Bonds
  • Calls
  • Puts
  • 1
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  • 4
  • 5
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Additional Sales

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1.I have reviewed a complaint filed in the action.

2.I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3.I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4.My transaction(s) in which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5.Within the last 3 years,

6.I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

Are you US Citizen?

Clear

Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Extreme Networks, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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Allegations

The filed complaint alleges that Extreme Networks, Inc made materially false and/or misleading statements and/or failed to disclose that: (a) Extreme was suffering from adverse client demand trends as its clients had ordered more product from Extreme than needed in the wake of the COVID-19 pandemic to avoid supply shortages and because of a lack of alternative sourcing options and thereby had cannibalized their Class Period purchasing needs; (b) Extreme was increasingly offsetting these adverse organic demand trends with the fulfillment of backlog orders in a manner that materially exceeded the proportion represented to investors; (c) as a result of (a)-(b), Extreme was drawing down its backlog at a much faster rate than represented to investors; (d) as a result of (a)-(c), Extreme’s backlog was already decreasing and at a much quicker pace than defendants’ statements to investors that backlog would only “begin to shrink” in 4Q23 and it would be not until “fiscal ‘26 when it really goes back to normal”; (e) as a result of (a)-(d), Extreme’s backlog was not on track to continue increasing to $600 million; and (f) as a result of (a)-(e) above, defendants had materially misrepresented Extreme’s organic demand, revenue growth, and market share gains as the fulfillment of Extreme’s backlog masked a decline in organic demand and attendant revenues.

Eligibility

In order to be eligible to join the EXTR class action lawsuit, you must have incurred a loss on shares of Extreme Networks, Inc. purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Extreme Networks, Inc. during the relevant time frame or pursuant to the relevant offering(s), you have until October 15, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

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